Non-Current Liabilities (26,545,076) Pages 66 and 67. On 3...

Non-Current Liabilities (26,545,076) Pages 66 and 67.

On 3 November 2022, the Company announced recapitalisation efforts would not proceed and that Firefinch Ltd would no longer
provide funding to Morila SA.
As a direct result of the withdrawal of funding support, Firefinch Limited lost the ability to instruct the General Manager of Morila
SA under Malian Law. (but can the company walk away from its legal obligations???) The subsequent actions of Morila SA management on the ground reflected this.
While no longer directly involved with the mining operations, the Company continues to work with Morila SA and the local
authorities to investigate options to mitigate the impact on the mine workers and the local community. To this end, Firefinch
Limited is currently undertaking a process to find a new owner for the Morila Gold Mine who is able to provide the necessary
funding to maintain operations and see the project reach its full potential.
A formal sale process was announced to the market on 14 December 2022 and remains in process.

My view: based on how they treated the financial accounts, it would appear they believed they did not have legal obligations to rehabilitation costs, once they lost the ability to instruct the Gen Mger of Morila SA.